Oppenheimer HQ lease starts near $13.3M annual rent
The planned relocation keeps Oppenheimer in Lower Manhattan, near its existing offices and the site where the firm was established in 1881.
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Form Type
8-K
Rhea-AI Filing Summary
Oppenheimer Holdings Inc. said its wholly owned subsidiary Viner Finance Inc. entered into a lease with RXR 32 Old Slip Owner LLC for approximately 221,339 rentable square feet at 32 Old Slip for its planned headquarters. The initial term is approximately 15.5 years from delivery of the final portion. The phased move-in is targeted for the first quarter of 2028. Fixed rent begins on the later of six months after final delivery and July 1, 2028, after a rent-free period of at least six months.
Annual fixed rent is approximately $13.3 million for the first five years, approximately $14.4 million for the next five and approximately $15.5 million thereafter through scheduled expiration; a two-month rent abatement applies during the final two full months of year ten. Viner is responsible for certain additional rent and charges. The landlord will perform specified delivery-condition and turnkey work at its expense; the company expects significant additional capital expenditures for furniture, equipment, technology and improvements beyond that work. Viner has renewal and expansion rights and a conditional option to terminate all or part of the premises effective as of the tenth anniversary of rent commencement, subject to specified conditions and a fee based on the landlord’s unamortized leasing costs, with a maximum aggregate of approximately $24 million.
8-K Event Classification
4 items: 1.01, 2.03, 7.01, 9.01
4 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Leased space: Approximately 221,339 rentable square feet
Initial lease term: Approximately 15.5 years
Rent-free period: At least six months
+5 more
8 metrics
Leased space
Approximately 221,339 rentable square feet
32 Old Slip, New York City
Initial lease term
Approximately 15.5 years
From delivery of the final portion
Rent-free period
At least six months
Before fixed rent begins
Fixed annual rent, first five years
Approximately $13.3 million
Following the rent commencement date
Fixed annual rent, next five years
Approximately $14.4 million
Following the first five years after rent commencement
Fixed annual rent thereafter
Approximately $15.5 million
Through scheduled lease expiration
Maximum aggregate termination fee
Approximately $24 million
For the conditional option effective as of the tenth anniversary of rent commencement
Phased move-in target
First quarter of 2028
Oppenheimer & Co. Inc.'s planned relocation
Key Terms
rent commencement date, rent abatement, turnkey work, unamortized leasing costs, +1 more
5 terms
rent commencement date financial
"the later of six months after delivery of the final portion and July 1, 2028"
rent abatement financial
"a two-month rent abatement during the final two full months of the tenth year"
A temporary reduction or suspension of rent a tenant must pay, negotiated into a lease or granted by a landlord for a set period or specific circumstances. It matters to investors because it directly changes a property owner’s rental income and cash flow—like a short-term discount or payment pause—and can affect valuation, debt coverage, and a tenant’s ability to stay in place during repairs, fit-outs, or financial strain.
turnkey work technical
"specified delivery-condition and turnkey work for the Premises"
unamortized leasing costs financial
"the Landlord’s unamortized leasing costs"
tranche-by-tranche basis technical
"The term will commence on a tranche-by-tranche basis"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much space is OPY leasing, and when is the move planned?
Viner Finance Inc. leased approximately 221,339 rentable square feet at 32 Old Slip in New York City. Oppenheimer & Co. Inc. said the phased move-in is targeted to begin in the first quarter of 2028.
What rent will OPY pay at 32 Old Slip?
Fixed annual rent is approximately $13.3 million for the first five years, approximately $14.4 million for the next five years and approximately $15.5 million thereafter through scheduled expiration. Rent begins on the later of six months after delivery of the final portion and July 1, 2028.
What termination option does OPY have under the lease?
Viner may, subject to specified conditions, terminate the lease for all or part of the premises effective as of the tenth anniversary of the rent commencement date. The fee is based on the landlord’s unamortized leasing costs, with a maximum aggregate of approximately $24 million. The lease also provides renewal and expansion rights.
AI-generated analysis. How Rhea-AI works. Not financial advice.
As filed with the Securities and Exchange Commission on November 9, 2026
___________________________________________________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 5, 2026
(Exact name of registrant as specified in its charter)
Commission File Number 1-12043
| (State or other jurisdiction of | (I.R.S. Employer | |||||||
| incorporation or organization) | Identification No.) | |||||||
(Address of principal executive offices) (Zip Code)
(212 ) 668-8000
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 1.01. Entry into a Material Definitive Agreement
On November 5, 2026, Viner Finance Inc. (“Viner”), a wholly owned subsidiary of Oppenheimer Holdings Inc. (the “Company”), entered into a lease agreement (the “Lease”) with RXR 32 Old Slip Owner LLC (the “Landlord”) for approximately 221,339 rentable square feet of office space at 32 Old Slip, New York, New York (the “Premises”). The Premises are expected to serve as the Company’s principal New York City offices and house its executive management team and many of its administrative functions, as well as its research, trading, investment banking and asset management operations. There is no material relationship between the Company or any of its affiliates and the Landlord, other than in respect of the Lease.
The Lease has an initial term of approximately 15.5 years from the Landlord’s delivery of the final portion of the Premises, consisting of a rent-free period of at least six months followed by a 15-year period beginning on the rent commencement date. The term will commence on a tranche-by-tranche basis as the Landlord delivers each portion of the Premises. Viner will not pay fixed rent on any portion of the Premises until the rent commencement date, which will be the later of (i) six months after the Landlord delivers the final portion of the Premises and (ii) July 1, 2028. Fixed annual rent will be approximately $13.3 million for the first five years following the rent commencement date and approximately $14.4 million for the next five years, subject to a two-month rent abatement during the final two full months of the tenth year following the rent commencement date, and approximately $15.5 million thereafter through the scheduled expiration date. Viner will also be responsible for certain additional rent and other charges under the Lease.
The Landlord will perform specified delivery-condition and turnkey work for the Premises at the Landlord’s expense, subject to the terms of the Lease. The Company expects to incur significant additional capital expenditures for furniture, equipment and technology, as well as for any improvements or upgrades to the Premises beyond the scope of the Landlord's work, which will be at Viner's expense, in connection with the relocation. The Lease also provides Viner with certain renewal and expansion rights and an option, subject to specified conditions, to terminate the Lease with respect to all or a portion of the Premises effective as of the tenth anniversary of the rent commencement date, upon payment of a termination fee (a maximum aggregate of approximately $24 million) based on the Landlord’s unamortized leasing costs.
The foregoing description of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
ITEM 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
ITEM 7.01. Regulation FD Disclosure
On November 9, 2026, the Company issued a press release announcing the execution of the Lease. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.
2
Forward-Looking Statements
This Current Report on Form 8-K contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected use of the Premises, the expected timing of delivery of the Premises and the rent commencement date, the Company’s expected capital expenditures in connection with the relocation, and the Company’s expected rent and other obligations under the Lease. Words such as “expect,” “will,” “anticipate,” “intend,” “plan” and similar expressions identify forward-looking statements. These statements are based on the Company’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including delays in the Landlord’s delivery of the Premises or completion of its work, construction and relocation costs, changes in the Company’s space requirements, and the other risks described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and its subsequent filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of this report, and the Company undertakes no obligation to update them, except as required by law.
ITEM 9.01. Financial Statements and Exhibits.
(d)Exhibits:
| Exhibit Number | Exhibit | ||||
| 10.1 | Lease Agreement, dated as of November 5, 2026, between RXR 32 Old Slip Owner LLC and Viner Finance Inc. (Certain information has been redacted) | ||||
| 99.1 | Press release dated November 9, 2026 | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Oppenheimer Holdings Inc.
Date: November 9, 2026 By: /s/ Robert S. Lowenthal --------------------------------- Name: Robert S. Lowenthal Title: Chief Executive Officer (Duly Authorized Officer) | ||
4
EXHIBIT INDEX
| Exhibit Number | Description | ||||
10.1 | Lease Agreement, dated as of November 5, 2026, between RXR 32 Old Slip Owner LLC and Viner Finance Inc. (Certain information has been redacted) | ||||
99.1 | Press release dated November 9, 2026 | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
5
OPPENHEIMER ANNOUNCES NEW HEADQUARTERS Move Demonstrates Firm’s Commitment to New York City’s Historic Financial District and Reflects Investment in the Firm’s Culture and Future Firm Will Occupy Approximately 220,000 Square Feet Across Six Floors at 32 Old Slip, With Phased Move-In Targeted to Begin in Early 2028 NEW YORK, [November 9, 2026] – Oppenheimer & Co. Inc. (Oppenheimer), a leading investment bank, wealth manager and subsidiary of Oppenheimer Holdings Inc. (NYSE: OPY), today announced plans to relocate its headquarters to 32 Old Slip in Lower Manhattan. The firm will occupy approximately 220,000 square feet across six full floors of the 36-story building, with a phased move-in targeted to begin in the first quarter of 2028. The new headquarters will bring colleagues closer together and offer state-of-the-art workplace infrastructure, a dedicated conference center and expanded hospitality for clients and guests. “For 145 years, Oppenheimer has grown alongside Wall Street, and our new headquarters at 32 Old Slip in Lower Manhattan reaffirms our commitment to the area,” said Robert Lowenthal, President and Chief Executive Officer of Oppenheimer. “This move is an investment in our culture, bringing our teams together on six floors with modern technology and a dedicated space to welcome clients. In doing so, we are building a workplace that honors our heritage and is designed for what comes next.” Oppenheimer’s roots in the Wall Street neighborhood date back to 1881, when the firm was established at 2 Wall Street. The new headquarters will remain a short distance from its existing offices and only blocks away from where it was founded. The firm was represented by JLL in the transaction with building owner RXR and will partner with Gensler to design the new space. Oppenheimer is creating a headquarters that honors its heritage while supporting the firm's continued growth and evolution. The workplace will blend classic and contemporary design elements, reflecting the firm’s character and culture while supporting greater collaboration, connectivity and engagement across its businesses. The location and views will connect the space to the waterfront heritage of New York City’s Financial District. "Oppenheimer's decision to stay and grow in Manhattan is a win for New York, retaining more than 1,000 quality jobs in a modern, new headquarters, representing a $66 million investment," said Governor Kathy Hochul. "This commitment sends a clear message that there is no better place to do business than New York State. We have the talent, the access to global markets and resources companies need to compete, innovate and grow. We have always led the way and we are building an even stronger future." The layout is intended to make it easier for colleagues across businesses to meet, exchange ideas and work together, both through scheduled meetings and everyday interactions. Throughout the office, Gensler’s design will combine natural light, open gathering spaces and integrated digital tools to create an environment that supports productivity, collaboration and innovation. That emphasis on connection will also shape the client experience. A dedicated conference center, equipped for both in-person and hybrid engagement, will accommodate client meetings and firmwide events. Expanded hospitality spaces will provide additional settings to welcome clients and colleagues visiting from around the world. “We want our headquarters to be a place where colleagues learn from one another, build lasting careers and welcome clients into the life of our firm,” Lowenthal added. “As we plan for Oppenheimer’s future, we are creating an environment that supports those relationships and the work our people do every day.”
About Oppenheimer Holdings Inc. Oppenheimer Holdings Inc., through its Oppenheimer & Co. Inc. subsidiary and related entities, provides a full range of wealth management, securities brokerage and investment banking services to high-net-worth individuals, families, corporate executives, businesses and institutions. For more information, please visit oppenheimer.com. About JLL JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of approximately 112,000 as of September 30, 2026. For further information, visit jll.com. About RXR Headquartered in New York City, RXR is a real estate investment manager, operator and developer managing over 85 commercial properties and investments with approximately $19 billion in gross asset value. Its expertise spans acquisitions, operations, development, construction, leasing and technology. About Gensler Gensler is a global design firm uniting creativity, research and innovation to enhance the human experience. Founded in 1965, its 6,000 professionals partner with clients in over 100 countries each year to create a better world through the power of design. Media Contact: Michael Dugan Haven Tower Group LLC 424 317 4852 mdugan@haventower.com